Water and water rights; creating the Water and Wastewater Infrastructure Investment Program. Effective date. Emergency.
Impact
The bill seeks to create a revolving fund specifically designated for the Water and Wastewater Infrastructure Investment, allowing for continuous funding without the constraints of fiscal year limitations. This fund will be primarily composed of appropriated state monies and any income generated through loan repayments. By offering financial support to local entities, the program is expected to enhance the sustainability and efficiency of water and wastewater systems, ultimately benefiting public health and safety in rural and urban communities alike.
Summary
Senate Bill 92 (SB92) proposes the establishment of a Water and Wastewater Infrastructure Investment Program, with the goal of improving water and wastewater systems across the state of Oklahoma. The initiative aims to provide competitive loans to eligible entities for the development and implementation of water and wastewater improvement projects. This program will be administered by the Oklahoma Water Resources Board, which is tasked with creating rules and criteria to guide the loan application and funding process. Additionally, it facilitates long-term infrastructure planning on a state level.
Sentiment
Overall, the sentiment surrounding SB92 appears to be positive, as it represents a proactive effort on the part of the state to address critical infrastructure needs. Supporters argue that the establishment of this investment program is essential for addressing the aging water infrastructure in many communities. However, concerns may arise regarding the accessibility and equity of the funding, especially for smaller municipalities with limited capacity to match funds or adhere to the detailed requirements of loan applications as stipulated in the bill.
Contention
Notably, the bill includes a 'clawback provision,' which requires loan recipients to repay funds if they fail to meet the terms of the loan agreement. This aspect of accountability aims to ensure that the funds are used effectively, but it may also present challenges to smaller entities that could struggle to meet these obligations. Discussions regarding the implementation of this program may also raise questions about prioritization in funding allocations, particularly in balancing the needs of larger cities against those of smaller communities.
Revenue and taxation; creating investment rebate program; application; Department of Commerce; claims and payments; creating the Water Infrastructure for Economic Development Fund; emergency.
Oklahoma Conservation Commission; creating the Spring Creek Watershed Study Act; creating the Spring Creek Watershed Study Cash Fund Revolving Fund. Effective date.
Water preservation; creating the Terry Peach North Canadian Watershed Restoration Act; defining terms; creating certain pilot program; repealer; emergency.